HFTs + CAD = LOONIE?

摘要

One of the conclusions reached last month (see "Changing euro day structures over time," September 2015) was that the rise of high-frequency and algorithmic trading coincided with a decrease in wide-ranging trend days and an increase in symmetric normal days. The idea that computer-driven trading can and apparently does focus more on capturing minor fluctuations and statistical noise over longer-term economic signals does not inhibit markets from performing functions such as price discovery or risk management.